Progress Update Housing Needs Assessment Final Report: June Equitable Development Strategies, Proposed Development Support Policies, Proposed Zoning Revisions, Proposed Housing Fund Recommendations, Proposed Public Property Inventory, Due May 29 th Complications of COVID-19 1
What are the problems we are working to dissolve? Inadequate housing supply for a growing population Disparities in access to housing and homeownership between white households and households of color Dramatic price increases at the neighborhood level 2
Housing Supply vs Housing Affordability Ensure an adequate amount of new housing supply at all price points to support a growing population and increasing demand in high opportunity neighborhoods. Preserve existing affordable housing and work toward guaranteed minimum affordability standards for a share of new supply across all neighborhoods. 3
Critical Plan Elements Support growth to provide for existing population + estimated annual population increase. Equitable Outcomes & Access to Opportunity Economically, Socially & Environmentally resilient and connected neighborhoods 4
Short-term Objectives Re-engage the Affordable Establish 1-year and 5-year Define clear goals for new construction Housing Fund with action strategies to pursue and preservation collaborative funding partners housing goals 5
Areas of Focus Establish broad-based support Calibrate incentives to meet Support ownership and for increasing supply across all market needs while establishing opportunities for wealth neighborhoods and product long-term affordability creation among households types with guidance and requirements. of color. accountability from neighborhood groups 6
Systemic barriers to housing and economic security Housing are starkly evident in health outcomes. & COVID-19 Full impact on the housing market will not be known for another 6-12 months. Expect increased need for income restricted housing . Resident Resiliency support is critical. Access to healthy open space & mobility are critical elements when planning for new housing supply Availability of financing for new construction may be delayed for several months, slowing our ability to catalyze more housing supply. 7
Questions? 8
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